It is possible to make a living off casino gambling.
Lots of people are doing it. You must have heard stories of people earning millions from online slots gamble, roulette games, blackjack bets, and all sorts.
If they can do it; why can’t you?
Of course, it won’t be easy, but you can take consolation from the fact that no money-making endeavor in life actually comes easy.
With a yearly target of $50k+, the goal will be to earn a minimum of $1k per week. And since we have 52 weeks in a year, you can take two weeks off.
Without much ado, let’s get straight down to business.
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To get started with your casino gambling escapades, you’ll need a set amount of money. I like to call this the “seed capital.”
Although you can find some free casino games online, which wouldn’t require any starting capital, I strongly advise against such offers because they do come with lots of limitations that may hamper our quest to reach the set $50+ target.
Naturally, you’ll need to have a strong enough cash reserve somewhere so that you won’t have to touch your weekly $1k earnings.
I can’t say outright that this is the required bankroll you’ll need to begin gambling because that will depend on the game you choose to play.
However, for the scope of this post, I’ll discuss three types of casino games and will highlight the required bankroll for each one.
The games include Blackjack, poker, and sports betting.
How to calculate the required bankroll to reach a $1k weekly earning
If you’re so good at card counting, you should be able to achieve between 0.5 and 1 percent edge in BlackjackBlackjack.
Now, in order to hit a $1k earning with a 0.5 percent edge, for instance, one would have to make at least $200,000 worth of bets per week. As you may already know, to make that number of bets, you would have to play exactly 2,000 hands if your average bet is $100.
If you’re so good that you can average, say, 50 hands per hour, it will take you 40 hours per week to reach that number – 200,000 bets/week.
$100 seems like a pretty good bankroll to set your eyes on, but if you’ve been playing Blackjack for a while, you’ll know that card counting is often prohibited at most casinos – reasons why card counters change casinos every now and then. Also, players who bet with up to $100 draw unnecessary attention to themselves.
A better scenario would be to strive to get a 1% edge. If you can get this, you can happily play 20 hours a week with a bet of $100 or 40 hours a week with a bet of $50.
Tip for blackjack success: To reach your goals in Blackjack, you’re going to need to learn how to count cards and also find a way to stop the casinos from figuring what you’re doing.
Things are slightly easier in poker because the house doesn’t really care how many hours you play for.
That said, if you play a proper a limit poker game, you can walk away with your $1k just by gambling 200 to 300 times the big bet. Normally, this usually amounts to something within the range of $4,000 and $6,000.
Note: that’s just a rough estimate. You may find that you need more than that to successfully win at poker tables.
If you play at no-limit poker games, you can walk away with your $1k by gambling 20 to 30 times the buy-in amount for the game you play. Roughly speaking, if you play at a $300 buy-in no-limit poker ring, this normally amounts to something within the range of $6,000 to $9,000.
Tips for poker success: There are tons of poker books and guides on the internet. Read and be filled with knowledge before venturing into the world of poker. That’s all the tips for success you need.
Sports betting is the hardest to make a living off. That’s because the profit margin is pretty slim, and the chances of success are hugely dependent on factors you can’t really control.
The difficulty of sports betting is well-documented, so much so that some punters believe it’s highly impossible to win more than 55% of bets in sports betting.
To reach your $50k goal for the year, you’ll need to win at least $4,000+ every month.
If we go by the general saying in sports betting that the best a punter can do is to win 55% of his bets, then one would need to:
- Find at least 100 games per month that offer good value.
- Prepare to stake at least $1,100 on each of these games.
- Ensure each of the games you’re selecting has the potential to give you an ROI of at least $1,000 on your $1,100 investment
- Hope to win at least 55 of them
If all these happen, you would have invested $110,000 on the 100 games. And from the 55 games you win, you would have gotten back your capital ($1,100 x 55 = $60,500) and profit ($1,000 x 55 = 55,000), which totals $115,500. In the end, you would have made a net profit of $5,500 for the month.
Tip for sports betting success: Know more than one sports game, but make sure you know all well. On days when you may be having trouble fishing out 100 games that offer good value in one sport, you can always mix in games from other sports.